Vietnamese pangasiusexportsin 2016 increased 9.6% in value year-on-year to US$1.71 billion, as shipments to the US and China registered higher growths, the Vietnam Association of Seafood Exporters and Producers (Vasep) has reported.

In the fourth quarter alone, exports to the US reached $100.6 million, up 21% compared with the same period 2015. For the whole year, pangasius exports to the US reached $387.4 million, up 22.8% compared with 2015.

The US accounted for 22.6% of the total export value, making it the largest importing market of Vietnamese pangasius.

Sales to China – Hong Kong in 2016 reached $304.7 million, up 88.7% compared with 2015, making it overtake the EU to become the second-largest importer of Vietnamese pangasius.

Vasep said China - Hong Kong could become the largest market of Vietnamese pangasius.

In contrast to the growths in the US and China, sales to the EU in 2016 decreased, by 8.5%, to $260.9 million year-on-year. The export value to the four largest single markets decreased: the Netherlands (-7.5%), the UK (-4.2%), Spain (-6.2%) and Germany (-4.9%) compared with 2015.

Pangasius exports to some other major markets also decreased including in Asean, by 0.2%; Mexico by 12%; Brazil, 12.5%; Colombia, 5.4%; and Saudi Arabia, 16.6%.

Price up in Mekong

Meanwhile, the price of pangasius in the Mekong Delta has been moving up since the Tet holiday. On Tuesday, Feb. 28, businesses paid VND23,000-26,000 (US$1-1.14) a kilogramme, up VND1,000-3,000 (US 4 cents-13 cents) compared with the price before the holiday, according to the Vietnam Pangasius Association.

With this price, farmers earn a profit of VND3,000-5,000 (13 cents-22 cents) a kilogramme, it added.

It said this is considered as the longest price increase lasting for three consecutive months in the region.